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Petroleum prices increase in Abu Dhabi


Abu Dhabi: The petroleum fuel producer and distributors in Abu Dhabi have decided to raise the prices of gasoline by 15 fils ($0.040) from next week.

The hike will be effective from coming Wednesday, they said, adding that the prices will be liberalised and increased gradually in the emirate, one of the seven that comprise the United Arab Emirates.

Hiking of gasoline prices by a small percentage is part of efforts to gradually reduce the accumulated and increasing losses underwent by companies, resulting from continuous high cost of the product, the companies said in a statement.